Land grab

A policy change has set off a row between authorities and land developers in the Chinese gambling enclave. Now some worry casino licences might be up for revision too. But investors are betting that foreign operators’ luck will hold when concessions come up for renewal in 2020.

Context News

Macau’s government has seized more than 100 plots of land from developers under a 2013 law it says is intended to root out corruption and better utilise land that has stood idle for over 25 years.

Some executives in the gaming industry fear this may portend difficult negotiations with authorities in upcoming talks over the renewal of casino operating licences, Reuters reported on Aug. 4. One senior casino executive described the move as “a warning sign that the government is not backing down for the casino concessions".

MGM China and SJM Holdings licences will expire in 2020. Sands China, Galaxy Entertainment Group, Wynn Macau and Melco Resorts and Entertainment will see their licenses expire in 2022.